Labor Day is here, and while that typically translates to our thoughts turning to pumpkins, returning to school, and cooler weather, we’d like to take the opportunity to add one more idea to your thoughts of Fall- home buying. Especially over the last couple of years we’ve come to know Spring as the Sellers Market. After the cold winter months, homes that appear on the market are eagerly snatched up by home buyers who are ready and prepared to buy. Fall however, has trended to be more of a time for buyers.
Real Estate slows in the summer, higher prices set by the Spring market pause buyers, people go on vacation and the urgency to purchase a home fades. This year was no different as we saw days on market increase, and price corrections occur throughout much of the area. As we enter Fall market, we anticipate the trends of this past summer to continue and pricing schematics to adjust from the high prices of the Spring.
So what does that mean for you? With interest rates still low it’s a perfect time to get your preapprovals in order to take advantage of the lower prices.